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You can also deduct the part of airtime expenses for a cell phone that reasonably relates to earning your commission income. However, you cannot deduct amounts you paid to connect or license the cell phone. If you buy a computer, cell phone, fax machine, or other such equipment, you cannot deduct the cost.
The amount reimbursed by the employer for the of the home internet is a taxable benefit and must be included in their income. The. $288 ( ($60 x 12 months = $720) x 40%) is the amount reimbursed for the personal use of the cell phone service plan. $288 is the value of the benefit to be included on the T4 slip.
- Keeping records. You have to keep records for each year you claim expenses. These records must include all of the following: a daily record of your expenses, together with your receipts and any cancelled cheques.
- Employees earning commission income. This chapter describes the expenses you can deduct if you earn commission income. If you earn a salary, read Chapter 3.
- Employees earning a salary. This chapter describes the expenses you can deduct if you earn a salary. If you earn commission income, read Chapter 2.
- Transportation employees. In addition to the expenses listed in Chapter 3, you may also be able to claim the cost of meals and lodging (including showers) if you are an employee of a transport business, a railway employee, or other transport employee.
Computers, cell phones, and other equipment - You can deduct the part of the airtime expenses for a cell phone that reasonably relates to earning your employment income. However, you cannot deduct amounts you paid to connect or license the cell phone or the cost of fees for Internet service .
Generally, an employee may be able to deduct certain expenses paid for employment if they had to pay for the expenses under their contract of employment and they obtain a completed and signed Form T2200, Declaration of Conditions of Employment, from their employer. In particular, an employee may be able to deduct a part of a basic cell phone service plan if certain conditions are met.
Oct 29, 2024 · Employees may not deduct reimbursed expenses. In addition, in the current context, the CRA and the ARQ have announced that the reimbursement of $500 by an employer to an employee to offset the cost of acquiring personal computer equipment or office equipment required for telework does not constitute a taxable benefit to the employee.
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Jun 11, 2024 · Equipment costs: You can’t deduct the cost of purchasing a phone. Deductible Expenses for Self-Employed Individuals. For self-employed individuals, the list of deductible cell phone expenses extends beyond those for employees. You can deduct the following: Basic service charges: As per the employee rules.
